State-owned Oil and Natural Gas Corporation (ONGC) will be outsourcing gas production activities at some of its marginally-filled and isolated wells in the Krishna-Godavari Basin to other companies on a production sharing basis. It is not economically viable for the company to produce gas in those wells where the output pressure has fallen below required limits.
The company would outsource 40 of such wells in the KG Basin, where the pressure gas has gone below 700 PSI, which is essential to connect to GAIL pipeline. The company may get 40-60 per cent of the gas produced by the private operators, depending upon the well.
The approximate turnover of the KG Onshore asset to ONGC is Rs 1,000 crore, involving production of around 950-980 tonnes per day of oil and 38 million standard cubic metres of gas per day, with value added products generation of 67,000 tonnes annually.crackcrack
| Company Name | CMP |
|---|---|
| ONGC | 284.15 |
| Oil India | 467.00 |
| Jindal Drilling&Inds | 543.00 |
| Deep Industries | 482.05 |
| Asian Energy Service | 313.50 |
| View more.. | |
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